Sussex business leaders: here’s what you need to know

The business landscape in Sussex is changing fast, from the way organisations use artificial intelligence to the way owners plan for succession and inheritance. Both areas carry opportunities and risks that leaders cannot afford to ignore. At Cripps, two of the biggest conversations we are having with clients right now are about AI governance, making sure boards stay in control of the technology shaping decisions every day, and the upcoming changes to Business Relief, which could have a major impact on succession planning and inheritance tax from April 2026.

Business owners: Act now to maximise Inheritance Tax relief before April 2026

Major changes to Inheritance Tax (IHT) are on the horizon, and business owners across Sussex (and the rest of the UK) should take notice. From 6 April 2026, Business Relief (BR) – a generous IHT relief available on qualifying business assets – will be significantly restricted.

Whether you own shares a trading company, a farm, or other qualifying business assets, now is the time to act to protect your legacy and maximise the relief using trusts.

What’s changing?

Currently, BR can reduce the value of qualifying business assets by up to 100% for IHT purposes, whether transferred during your lifetime or upon death. This means that assets like shares in a trading business or farm can be passed on without triggering IHT, provided key conditions are met. These include owning the asset for at least two years and ensuring the business does not consist wholly or mainly of investment activity.

However, from April 2026, this relief will be capped. Only the first £1 million per person of qualifying assets will receive 100% BR, and any value above that will only qualify for 50% BR. That difference could result in a significant IHT bill, particularly when transferring assets into trust, which would trigger an immediate charge of 10-20% (if BR applies).

Why act now?

If you’re planning to sell your business, retire, or pass it on to the next generation in a tax-efficient, flexible and controlled manner, these changes could significantly increase your tax exposure.

Transferring BR-qualifying business assets into a trust before 6 April 2026 allows you to bank the current unlimited 100% relief and to mitigate the trust’s overall IHT liability once the new rules are in place.

Important considerations

• Asset qualification: Ensure the business asset has been held for two years and isn’t involved mainly in investment activity.

• Excepted assets: Surplus cash or personal assets not used for business purposes may not qualify for BR.

• Trust structure: A discretionary trust is often the most suitable vehicle for flexibility and control.

Don’t miss the window

Business owners should now review their holdings and estate plans, identify qualifying assets, and explore trust planning before 6 April 2026 to secure full relief under current rules.

Our private wealth and corporate teams can help you act strategically and avoid costly pitfalls.

AI Governance: Why Sussex Boards can’t afford to look away

When most organisations talk about artificial intelligence, the conversation starts (and often ends) with the tech team. What tools are we using? How do they work? Are they secure?

But as AI becomes embedded in everyday business processes, from recruitment and marketing to pricing and procurement, it becomes clear this isn’t just a technical issue. It’s a business-wide risk and opportunity that demands board-level attention.

The question isn’t just what AI can do

It’s what AI should do, and how leaders decide and control that. The temptation is to treat AI as a background tool quietly improving efficiency or insights. But AI can shape very human outcomes – from who gets a job interview, to which customers are offered discounts, to how complaints are prioritised.

That makes governance critical. Not just to meet legal and regulatory standards, but to uphold your organisation’s values and reputation.

Why Boards should care

Good AI governance goes beyond data security and model accuracy. It touches on:

• Reputation – Biased, unfair, or unexplained outcomes can undermine the trust you’ve built.

• Risk – Poorly governed AI can trigger discrimination claims, regulatory investigations, or legal exposure. Insurers may also challenge claims if safeguards were not in place.

• Accountability – Boards must take responsibility for AI decisions.

• Due diligence – Investors, lenders, and clients increasingly view AI governance as a key risk factor.

This isn’t about fear mongering. It’s about staying in control.

What good governance looks like

It starts with asking the right questions – and making sure they’re being asked at the right level.

• Do we know where and how AI is being used across the business?

• Who has oversight – and are they empowered to challenge or pause a system?

• Are ethical considerations built into procurement and deployment?

• What processes are in place if things go wrong?

• When was the last time the board reviewed our approach?

If the answer to any of those is “not sure”, then it’s time to act.

Take control of AI in your business

Sussex business leaders don’t have to navigate AI alone. Our practical AI Governance Toolkit helps boards, legal, and compliance teams work together to ask the right questions, make informed decisions, and protect their organisation’s reputation.

www.cripps.co.uk